Knowledge
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1721 Results
Post-Brexit Points-Based Immigration System to open 1 December 2020
The Government's new points-based immigration system was widely expected to take effect from 1 January 2021, following the end of the Brexit transition period. However, the Government has now announced that the new system will open for applications on 1 December 2020.
A Question of Purpose: Litigation Privilege and The Financial Reporting Council Ltd v Frasers Group Plc
The recent decision of the High Court in The Financial Reporting Council Ltd v Frasers Group Plc (formerly Sports Direct International Plc) [2020] EWCH 2607 (Ch) reinforces the principle that, even where litigation is reasonably within contemplation at the time, a communication or document will only be protected by litigation privilege where it has been prepared for the sole or dominant purpose of litigation.
Exporting Dual-Use items to EU Member States from the UK: The new rules
On 16 October 2020, the UK’s Export Control Joint Unit ("ECJU") issued a timely reminder to UK businesses that an Open General Export Licence ("OGEL") will be required where a business is exporting dual-use items, as set out in Annex 1 of EU Regulation 428/2009 (the "Dual-use Regulations"), to any EU member state, and the Channel Islands, from 1 January 2021.
Attaching conditions to the provision of consent under a contract - the Commercial Court protects the parties’ bargain
Clauses which enable a party to a contract to request that its counter–party consent to the making of a change to the contract's terms often provide that such consent is not to be unreasonably withheld.
Distressed M&A: Unlocking value in difficult situations
Distressed M&A toolkit
COVID-19 and the resulting economic instability will have an adverse effect on some businesses for months, and potentially years, to come. For private equity investors and other financial sponsors, this will create opportunities to acquire good assets (which may be in need of short/medium term financial support) at attractive valuations.
CJEU/Privacy International decision could create more problems for adequacy
A recent CJEU finding on mass surveillance creates more uncertainty with regard the UK's chances of an adequacy decision. We explain what the case is about and its potential impact on adequacy.
Retained EU case law: Court of Appeal to be allowed to diverge
The Government has published draft legislation extending the ability to diverge from retained EU case law to the Court of Appeal and other courts at the same level (in addition to the Supreme Court). It had also been considering allowing the High Court and other courts at the same level to diverge, but this option is not being pursued. How significant is this change likely to be in practice?
New Improved Job Support Scheme
The Chancellor has today announced increased support for employers under the new Job Support Scheme (JSS). The Government subsidy available under the JSS has been more than doubled while the contribution required from employers has been significantly reduced.
BITs and the post-Brexit investment landscape
Bilateral Investment Treaties, or BITs, are an important part of the international investment landscape. In this briefing, we look at what BITs are and whether Brexit will make it more attractive to structure investments in certain EU member states through the UK in order to take advantage of BIT protection.
Brexit: what difference does no deal make?
The UK has recently indicated that, unless there is a "fundamental change in approach" from the EU, it is prepared to exit the transition period without a trade deal. In this briefing, we highlight the key areas where "no deal" is likely to make a difference.
Pension scheme trustees to lead the way in assessing and managing climate risk: our response to DWP's consultation
The Department of Work and Pensions (DWP) recently consulted on the introduction of new duties that will require pension scheme trustees to have in place effective governance, strategy, risk management and accompanying metrics and targets to assess and manage climate risks and opportunities in their schemes.
FRC review of 2020 UK Stewardship Code reporting
Following the publication of its 2020 Stewardship Code (which took effect from 1 January 2020), at the end of September the FRC released its review of the early reporting which has taken place under the new Code. While the FRC notes that some firms have made 'good attempts' at early reporting, it says there is more to be done to ensure that investors meet the high standard of reporting on stewardship activities undertaken and outcomes achieved, rather than just stating intent or policy.
EU Conflict Minerals Regulation
The EU passed a Regulation on Conflict Minerals ("the Regulation") back in 2017 and its requirements will finally begin to apply to importers of covered minerals as of 1 January 2021. Conflict minerals – usually "the 3Ts" (tantalum, tin, and tungsten) and gold ("3TG") are crucial in the components of many consumer electronic products and have applications in aerospace, automotive, medical and other sectors.
Service providers: getting ready for Brexit - updated January 2021
This briefing was updated on 7 January 2021 to reflect the UK-EU trade deal.
Brexit: how will any EU-UK free trade agreement deal with movement of people?
Parties to free trade agreements (FTAs) typically recognise that movement of people is necessary to facilitate trade, particularly for services businesses. However, they are often reluctant to dispense with requirements imposed by their own domestic immigration regimes.
Corporate carve-outs: Unlocking hidden value
Financial sponsors are increasingly looking to carve-outs as a way to deploy capital outside highly competitive auction processes. Carve-outs also provide opportunities to unlock hidden value from an underperforming, undervalued or unloved business unit.
CFIUS Update – US Treasury Department modifies filing requirements for critical technologies
Following a consultation undertaken by the US Treasury Department, a new rule will come in to force on 15 October 2020 altering the current mandatory Committee on Foreign Investment in the United States ("CFIUS") filing requirements. The amendment relates specifically to foreign direct investments ("FDI") into US businesses with a 'critical technology' focus.
The buy and build strategy to growth: Bolt on acquisition considerations
Recent competition for prime assets has led sponsors to seek creative ways to deploy their capital. Increasingly, we are seeing sponsors adopt a buy and build strategy to accelerate growth and generate high returns for investors.
PJSC Tatneft v Gennady Bogolyubov & Ors: foreign lawyers and legal advice privilege
In this decision, the High Court confirmed the test for legal advice privilege as it applies to foreign lawyers.